13,500 per cent returns in this multibagger penny stock under Rs 50: This micro-cap company signs MoU with SRBH Motors Pvt Ltd!

Shares of the company gave multibagger returns of 960 per cent in just 1 year, 8,200 per cent in 3 years and a whopping 13,500 per cent in 5 years.

Mercury EV-Tech Limited informed that the company has inked the MOU with a much-acclaimed group- SRBH Motors Pvt Ltd who have developed various commercial vehicles like E-Tipper, E-Prime movers, E-Dragger, E-Mini buses, cargo containers etc at their research and development centre at Mahiar, Madhya Pradesh where they have invested more than Rs 20 crore for the development of the R&D facility.

On signing of this MOU, the established R & D Centre will be used for the development of a new range of products of “Mercury EV-Tech Limited” with good terms & conditions with the SRBH Motors Pvt Ltd. Apart from this, both companies have agreed to start manufacturing cargo containers at the Vadodara-based facility by the end of this month.

The company has identified the location of the plant at Vadodara. This facility will produce 700-800 containers in a year in its 1st phase. Both companies have committed to start the modifications and further development of the existing products of Mercury EV-Tech.
On Friday, October 13, 2023, shares of Mercury EV-Tech Limited remained steady at Rs 49 per share, with no fluctuations. The stock’s 52-week high of Rs 50.47 and an intraday low of Rs 3.79.

Mercury EV-Tech Ltd, formerly known as Mercury Metals Limited, is involved in the manufacturing of electric scooters, electric cars, electric buses, electric vintage cars, electric golf cars, and electric vehicles in India. The company has a market cap of Rs 817 crore.

Shares of the company gave multibagger returns of 960 per cent in just 1 year, 8,200 per cent in 3 years and a whopping 13,500 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.